Type A & B of exempted applicants

According to Insurance Authority’s Insurance Intermediaries Quality Assurance Scheme (IIQAS), There are 5 types (A, B, C, D, E) of individuals who could be exempted from the IIQE requirement.

Type A individuals could be exempted from IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance), IIQE Paper 3 (Long Term Insurance) and IIQE Paper  6 (Travel Insurance).

Type B individuals could be exempted from IIQE Paper 5 (Investment-linked Long Term Insurance)

Type C, D and E of exempted applicants

Type C individuals could be exempted from IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance) and IIQE Paper  6 (Travel Insurance Agents Examination).

Type D individuals could be exempted from at most 4 examinations, including IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance), IIQE Paper 3 (Long Term Insurance) and IIQE Paper  6 (Travel Insurance Agents Examination).

Type E individuals could be exempted from IIQE Paper  6 (Travel Insurance Agents Examination).

Type A exemption requirements

The following are exempted from IIQE Paper 1, IIQE Paper 2, IIQE Paper 3, and IIQE Paper 6 examinations.

Holders of an approved insurance qualification:

1.Chartered Life Underwriter (CLU);

2.Associate or Fellow of The Chartered Insurance Institute (ACII/FCII);

3.Senior Associate or Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF (Snr Assoc)/ANZIIF (Fellow))

4.Fellow of the Life Management Institute (FLMI);

5.Chartered Property Casualty Underwriter (CPCU);

6.Hong Kong Diploma in Insurance Studies of The Insurance Institute of Hong Kong/The Chartered Insurance Institute

Holders of an approved actuarial qualification:

1.Fellow of the Institute of Actuaries of England (FIA);

2.Fellow of the Faculty of Actuaries in Scotland (FFA);

3.Fellow of the Institute of Actuaries of Australia (FIAA);

4.Fellow of the Society of Actuaries of the United States of America (FSA).

Type B exemption requirements

The following are exempted from IIQE Paper 5 examination.

•Holders of recognized professional qualifications in insurance and investment:

1.Chartered Life Underwriter (CLU) who has passed the elective paper: “HS 328 Investments” of the CLU qualifying examination;

2.Chartered Financial Consultant (ChFC);

3.Certified Financial Planner (CFP);

4.Person who has passed the Foundation Programme Examination of the Hong Kong Securities and Investment Institute (FPE);

5.Person who has passed the Diploma Programme Examination of the Hong Kong Securities and Investment Institute (DPE);

6.HKSI Practicing Certificate of the Hong Kong Securities and Investment Institute (Passed HKSI Papers 1, 7, 8)

7.HKSI Specialist Certificate of the Hong Kong Securities and Investment Institute;

8.HKSI Professional Diploma in Financial Markets of the Hong Kong Securities and Investment

9.Institute.

•Holders of recognized professional qualifications in actuarial science:

1.Fellow of the Institute of Actuaries of England (FIA);

2.Fellow of the Faculty of Actuaries in Scotland (FFA);

3.Fellow of the Institute of Actuaries of Australia (FIAA);

4.Fellow of the Society of Actuaries of the United States of America (FSA).

Type C exemption requirements

Insurance intermediaries who fulfill all of the following requirements:

1.Practicing in the insurance intermediary business in Hong Kong immediately before 1^st January 2000

2.Holder of the Certificate of Proficiency in General Insurance Studies issued by The Hong Kong Federation of Insurers

 

Are exempted from IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance) and IIQE Paper  6 (Travel Insurance Agents Examination).

Type D exemption requirements

•Insurance intermediaries who are practicing in the insurance intermediary business in Hong Kong immediately before 1^st January 2000

•Insurance intermediaries in possession of five years’ proven experience in insurance business in Hong Kong within the six-year period immediately before 1^st January 2000

Can be exempted from sitting for IIQE Paper 1 (Principles and Practice of Insurance) , and the following paper as appropriate (whichever relates to the specific experience an applicant has obtained) :

1.IIQE Paper 2 (General Insurance)

2.IIQE Paper 3 (Long Term Insurance)

3.IIQE Paper 6 (Travel Insurance)

•Only insurance intermediaries who possess proven experience in both general and long term insurance business can be exempted from all papers i.e. IIQE Paper 1, IIQE Paper 2, IIQE Paper 3 and IIQE Paper 6.

Type D work experience vs exempted papers

Able to waive IIQE Paper 1 Principle and Practice of Insurance	Able to waive IIQE Paper 2 General Insurance	Able to waive IIQE Paper 3 Long Term Insurance	Able to waive IIQE Paper 6 Travel Insurance Agents
✓	✓
✓		✓
✓			✓

 

Type E exemption requirements

Applicants who have passed both of the following IIQE Papers:

1.Principles and Practice of Insurance (Paper 1)

2.General Insurance (Paper 2)

Can be exempted from sitting for IIQE Paper 6 (Travel Insurance Agents Examination Paper).

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